One Year Ago, You Invested $1,750

question 6

Multiple Choice

One year ago, you invested $1,750. Today it is worth $1,815.48. What rate of interest did you earn?

• A) 3.59 percent
• B) 4.33 percent
• C) 3.88 percent
• D) 3.74 percent
• E) 4.01 percent

---

Definitions:

Check-clearing Process

The method through which banks collect and settle the amount of a check, transferring funds from one account to another.

Movability

The characteristic of an asset that allows it to be transferred or moved from one location to another.

Commission

A fee or percentage of a transaction value paid to an agent or company for facilitating a service, such as a sale or real estate transaction.

Negotiable

Capable of being discussed and modified in a transaction or agreement.